AXA IM hires ESG and sustainability head

Marie Luchet will work within its private markets fund-of-funds business

16 May 2023

AXA Investment Managers has named Marie Luchet as head of ESG and sustainability at AXA IM Prime, the firm’s private markets fund-of-funds business.

Luchet will be responsible for overseeing AXA IM Prime’s sustainability strategy, including the advancement of ESG integration in investment decision making, fund and asset-manager selection, and reporting and product design.

Prior to joining AXA, Luchet led ESG strategy for risk and compliance consultancy ACA Group, having also worked at the Principles for Responsible Investment between 2016 and 2022.

Luchet also served as head of responsible investment with ECOFI Investissements from 2010 to 2016, and as an ESG sell-side analyst with CIC Market Solutions from 2006 to 2008.

Based in Paris, she will report to CEO of AXA IM Prime Pascal Christory.

Christory said: “We are delighted to welcome Marie, who will steer AXA IM Prime’s developments on ESG in line with the group’s sustainability roadmaps.

“Marie brings more than two decades of experience in sustainable finance and corporate social responsibility, and she will be instrumental in continuing to develop our sustainability strategy, as well as championing ESG across the business.”

This article first appeared on ESG Clarity’s sister title Portfolio Adviser.

Persefoni boosts sustainability advisory board with SEC hire

Former acting chair and commissioner Allison Herren Lee joins to advise on disclosure standards and regulation

11 May 2023

Former Securities and Exchange Commission (SEC) acting chair and commissioner Allison Herren Lee has joined climate accounting company Persefoni’s sustainability advisory board.

Her role will be to advise Persefoni’s board and executive team on best-in-class climate disclosure standards and likely regulatory shifts, and on the integration of sustainability reporting into corporate and investment management.

Lee’s appointment follows two other former SEC appointments at Persefoni: Emily Pierce joined the firm’s regulatory department in December last year, and Kristina Wyatt in March 2022.

“Allison is a global leader in addressing climate risk as financial risk within the public markets; I can think of no one better to advise Persefoni and our clients/partners through upcoming climate disclosure regulation,” said Kentaro Kawamori, CEO of Persefoni.

“The insight and relationships she has formed during her time at the SEC will be vital as we continue to guide our clients on their journey to compliance. We are excited to welcome her on board.”

During her time as acting chair, Lee brought ESG issues to the forefront of the agency’s agenda, and specifically worked to meet investors’ demand for material climate disclosures. She launched a program during her tenure that included extensive public outreach and a request for public comment related to climate-related disclosures, which laid the foundation for the subsequent climate disclosure proposal pending before the SEC.

She also created an ESG taskforce in the commission’s division of enforcement, and launched an investor education program related to ESG investment risks.

Prior to her role as acting chair and commissioner, Lee spent over a decade at the SEC, including as counsel to commissioner Kara Stein and as senior counsel in the division of enforcement’s complex financial instruments unit.

“Allison has been a driving force in providing investors in the US markets with the information they need about companies’ climate-related risks. Before it was popular to speak about climate change as a financial risk, Allison was speaking out and working to bring investors the information they have long been asking for” remarked Persefoni deputy general counsel and chief sustainability officer Wyatt.

Commenting on her new role, Lee said: “I am incredibly fortunate to be joining Persefoni’s sustainability advisory board to advance climate disclosure and promote greater transparency and accountability in this space. Sustainability continues to be a complex topic for many businesses, particularly around regulation, and I hope that my skills and experience at the SEC will help further Persefoni’s goal of providing timely solutions to businesses across the globe.”

Mirova appoints US head for global impact growth

Zineb Bennani takes over from Ritesh Shah in leading the firm's US business

4 Apr 2023

Mirova, the sustainable finance arm of French investment manager Natixis, has promoted Zineb Bennani to CEO of its US business and global head of business development.

Bennani (pictured), who starts her new role in May, is currently chief operating and development officer at Mirova. She will spearhead Mirova’s next growth phase in the US out of Boston, overseeing a team of more than 25 people that manages $8.4bn in assets.

“10 years after its creation, Mirova is pursuing its mission to help transform the economy into a more sustainable and inclusive model,” said Philippe Zaouati, CEO of Mirova.

“Zineb has been a key person in the development of Mirova since its inception. I am fully confident that she will be able to deploy an ambitious roadmap and support our strategic development at an international level and our ambition to become a global leader in impact investing.”

Last year, Mirova bought SunFunder, a private debt management company that finances renewable energy projects in Africa and Asia to boost its presence in emerging markets. Now it is targeting the US market to increase its assets under management for its global equities strategy, expansion of impact investing and the development of its private assets offering.

Bennani has previously worked as deputy chief investment officer, head of governance, research and engagement and an equity portfolio manager during her nearly 17 years at both Mirova and Natixis Investment Managers.

Bennani said: “I am particularly pleased to be joining the Mirova US team, which I already know very well. Our ambitions are strong in this market, which is essential for deploying global strategies but also key for the development of our private assets platform.”

Mirova’s current interim CEO, Ritesh Shah, will become global head of corporate development. Both Bennani and Shah will continue to report to Mirova’s deputy CEO, Guillaume Abel.

JP Morgan appoints partner in sustainable growth equity team

Alex Bell has almost two decades' experience

30 Mar 2023

JP Morgan Private Capital has appointed Alex Bell as a partner of its Sustainable Growth Equity (SGE) platform.

Bell brings close to two decades of private equity experience with a focus on energy and climate technology.

Based in New York, he will support SGE platform’s climate solutions investing efforts.

Bell was previously head of North America climate private equity at Tikehau Capital, a multi-billion-dollar global asset manager headquartered in Europe.

There he was responsible for all stages of investing across sourcing, diligence, structuring, execution and fundraising.

Prior to Tikehau Capital, Bell was a director at Caisse de Dépôt et Placement du Québec (CDPQ), where he helped launch a C$500m platform investing in late-stage venture and early-growth private equity opportunities in energy transition, sustainable food & agriculture and industrial decarbonization.

He spent the early part of his career in energy private equity, including at Pine Brook Partners and Cadent Energy Partners, and started his career in the power & utilities investment banking division at Lehman Brothers.

Tanya Barnes, managing partner and co-global head of sustainable growth equity at JP Morgan Private Capital, said: “I’ve known Alex for nearly two decades and he is a pragmatic, values-driven investor who brings years of multi-asset class sustainable investing experience to the team.”

Sustainable Growth Equity

The Sustainable Growth Equity platform was established in 2021, following JP Morgan Chase’s pledge to target more than $2.5trn over 10 years to advance sustainable development and climate action.

The firm has also made a commitment to co-invest alongside Project Black, an Ariel Alternatives private equity fund, which aims to close the racial wealth gap by investing in middle market businesses that are minority owned.

JP Morgan is anchoring SGE’s first sustainability investment strategy with an investment of up to $150m, one of its largest capital commitments ever made into an alternative investment strategy.

Franklin Templeton hires Andrus for global sustainability strategy

Joining as vice-president of sustainability global markets from Calpers

22 Mar 2023

Franklin Templeton has hired James Andrus to the newly created role of vice-president of sustainability global markets.

Andrus joins Franklin Templeton from the California Public Employees’ Retirement System (Calpers), where he served as the interim managing investment director for sustainable investing and led CalPERS’ sustainable investment strategy across its $443bn investment portfolio and advocated for transparency in the financial markets at the national and international levels to ensure that investors like Calpers have appropriate regulatory environments for investing their assets. Prior to Calpers, he was a partner at global law firm K&L Gates.

He is also a member of the Securities and Exchange Commission investor advisory committee, Public Company Accounting Oversight Board investor advisory group, Financial Accounting Standards Advisory Council and the International Financial Reporting Standards Advisory Council. He co-chairs the financial capital committee of the International Corporate Governance Network, and is a member of the Executive Leadership Council, a national organization comprising current and former Black CEOs and senior executives at Fortune 1000 and Global 500 companies.

“James is deeply experienced in corporate governance and brings a wealth of knowledge and expertise in the effective management of financial, human and natural capital to Franklin Templeton,” said Anne Simpson, who also previously worked at Calpers, Franklin Templeton’s global head of sustainability, who Andrus will report to.

Based in California, Andrus will oversee execution of Franklin Templeton’s sustainability and stewardship initiatives and serve as an advocate and spokesperson with clients, external organizations, policymakers, regulators and internal stakeholders. He will manage the firm’s global sustainability strategy team, which implements the firm’s sustainable investment strategy and consists of professionals located across Europe, Asia and the US with additional recruitment underway for data, content, stewardship and product roles. He will also work closely with the firm’s global public policy team.

“I look forward to adding value by advancing the sustainable investment priorities and contributing directly to global regulation and policy initiatives while emphasizing enhanced financial information,” Andrus said.

Aegon appoints global climate solutions lead

Anne Scott will take on the newly created role

17 Mar 2023

Aegon Asset Management has appointed Anne Scott (pictured) to the newly created role of global climate solutions lead.

She joins the firm’s global fixed income team with a focus on supporting its efforts in climate solutions.

With 25 years in industry, Scott arrived at Aegon in 2005 to lead its middle office delivery teams. She joined the firm’s investment department in 2012, before leading the Mifid II structure to evaluate Aegon’s investment research consumption.

She has also co-chaired the asset manager’s global investment management risk control commitee. Before arriving at Aegon, Scott held roles at Financial Times Information and HSBC Global Fund Services.

Adrian Hull, Aegon global head of core fixed income, said: “Responsible investing has been a key element of Aegon Asset Management’s investment philosophy for more than 30 years and we are constantly reviewing our product offering to ensure we meet the needs of our clients. Most recently this has seen us shift our short-dated investment grade bond strategy to become the Global Short Dated Climate Transition Fund, focusing on the transition to a net-zero global economy.

“Anne brings deep experience of implementing regulatory change and adaptation across the business and is a strong advocate for climate solutions with real-world impact. Her appointment as global climate solutions lead allows us to accelerate our expertise in climate transition investing as we continue to adapt for the future.”